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    BDM   AU0000118994

BURGUNDY DIAMOND MINES LIMITED

(BDM)
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Burgundy Diamond Mines Limited Provides Update on Exploration Activities in Botswana

04/15/2021 | 09:26pm EDT

Burgundy Diamond Mines Limited provided an update on its exploration activities in Botswana being managed through an alliance agreement with private company Diamond Exploration Strategies Ltd. (DES). February 2021 Drilling Program: In an ASX Announcement released on 1 March 2021, Burgundy reported the completion of a short two-hole drilling program on the Mmashoro target east of the Orapa mine. Each of these holes was drilled to a depth of 100 metres and intersected 45 metres of Kalahari sediments and 55 metres of Stormberg Group basalt. Visual inspection of the chips recovered from the reverse circulation drilling identified significant quantities of basalt, but there was potential for this to be a kimberlite-basalt breccia for which kimberlitic indicator mineral analysis was required to confirm the presence of kimberlite material. After some delays in sample shipment and processing in South Africa, this analysis has now been completed. The results do not show any kimberlite intersection from these two early holes, and the further potential of this target is being evaluated. The planned drilling at the Nata Project in eastern Botswana will proceed as soon as environmental permits have been received. DES is working closely with government agencies to advance this permitting process. Ongoing Exploration Program: The Mmashoro drilling represents only the first program of work planned by DES on more than 15 target areas over the coming 12 months. DES now controls a large tenement package over some highly prospective targets in many parts of Botswana, and has been working with Burgundy on selecting and prioritising targets to be assessed under the alliance agreement. These include a range of kimberlitic and alluvial targets, and on-ground activity on the first of these projects will be commencing in May.


© S&P Capital IQ 2021
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Financials
Sales 2021 - - -
Net income 2021 -12,1 M -9,07 M -9,07 M
Net cash 2021 1,69 M 1,27 M 1,27 M
P/E ratio 2021 -6,02x
Yield 2021 -
Capitalization 77,4 M 57,9 M 58,0 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 85,5%
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Managers and Directors
Peter J. Ravenscroft Chief Executive Officer, MD & Director
David Edwards Chief Financial Officer & Secretary
Stephen Bruce Dennis Non-Executive Chairman
Jeremy C. King Independent Non-Executive Director
William Michael O'Keeffe Non-Executive Director